News

Reform tax system for owner-directors and self-employed in Budget 2016… Shannon Chamber

The constituents of the Government’s fifth and possibly final budget will be reviewed and analysed by Grant Thornton’s tax specialists, Leslie Barrett, tax partner and Theresa O’Gorman, tax director, at Shannon Chamber’s annual Budget briefing, which takes place in the Bunratty Castle Hotel on Wednesday, 14 October, commencing with registration at 7.45am.

With the economy continuing to perform strongly, Shannon Chamber is expecting to see some significant tax cuts and some innovative tax measures to help sustain the recovery included in Budget 2016. .

Recognising that the budgetary measures introduced each year, and the policy strategies that underpin them, have a real impact on the business community, Shannon Chamber contributed a number of proposals to Chambers Ireland for submission in its pre-Budget 2016 submission to Government.

The Chamber is hoping that these proposals, which included a requirement to reform the system for owner-directors and the self-employed and a reduction in Capital Gains Tax to 20% for active investments in order to stimulate increased investment in productive enterprise and SMEs, will be given consideration when the contents of Budget 2016 are unveiled.

“We have also called on Government to make provision for a ‘Pilot Awareness’ scheme to highlight, not only relevant taxation or other measures in this year’s Budget, but policy interventions; the Shannon Region would be the ideal location for a pilot scheme of this nature,” the Chamber’s CEO, Helen Downes said.